Double Banking Blow for Chiswick High Road
Lloyds announces it will follow Halifax and close local branch
The Lloyds branch on Chiswick High Road is currently closed for refurbishment
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November 18, 2023
Chiswick High Road is set to lose two more bank branches within a few months as the latest spate of closures is announced.
The Halifax ceased operating in the area at the beginning of the month and now Lloyds has named its branch at 308-312 Chiswick High Road on a list to be culled on 19 February next year.
A report prepared by Lloyds to justify the closure states that the number of transactions carried out by personal customers in the branch had fallen by 47% over the last five years and for business customers they were down by 56%. There were similar falls in use of the cashpoint machines at the branch for the two types of customer.
89% of the Chiswick branch’s customers have also used other Lloyds branches, internet banking or phone banking.
Lloyds claims that only 163 of its customers were using the branch regularly on a monthly basis to July of this year. Regularly is defined as a customer that carried out an in branch transaction in at least eleven of the 12 months of the year.
The nearest Lloyds branch is a mile and a half away on King Street in Hammersmith or the one in Ealing is 2.6 miles away.
Customers of Lloyds can use the cashpoint at the NatWest branch directly opposite at no charge.
The local branch is currently closed for temporary refurbishment and is expected to reopen on 27 November.
Halifax announced its intention to close its branch at 366-368 Chiswick High Road this July. At the time it said that the decision was down to falling usage at the branch based on analysis up to March of this year looking back at the previous four years. It recommended that customers switch to using the branch on King Street in Hammersmith.
Halifax closed its branch at the beginning of November
The bank claims that only 79 customers used the branch regularly in the 12 months to this March and both branch visits and use of the cash machine had fallen sharply. Branch visits had more than halved since 2018 while ATM withdrawals are down by 43.
The departure of Lloyds and Halifax from the High Road sees a continuation of the flight of banks with Barclays shut its branch in 2022 and Santander the year before.
A Banking Hub was recently opened on Acton High Street which allows customers of six major high street banks including Lloyds to do in person transactions, but Halifax is not currently participating.
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